The information comes from a study released on Thursday by the Federal Statistical Office (FSO). 

These are some of the main highlights:

Median wage

In 2023, Switzerland’s median wage for full-time work was 84,500 francs (85,582 in euros) per year.

This is how it compares to European averages of other high-income countries, according to Eurostat data: 

Iceland’s median pay in 2023 was 53,885 euros (50,640 francs); Luxembourg’s 49,035 euros (46,082 francs), and Norway’s 45,798 euros (43,037 francs).

The gap is even wider when compared with Switzerland’s immediate neighbours: 38,457 euros (36,142 francs) in Austria; 38,086 (35,792 francs) in Germany; 38,481 euros (36, 163 francs) in France; and 23,207 euros (21,809 francs) in Italy — the latter falling under the EU average of 28,217 euros.

You may argue that Switzerland’s cost of living is quite a bit higher than in most other European nations, and it ‘eats up’ the high salaries.

But, according to the same Eurostat data, even when adjusting wages for purchasing power standards, Switzerland is still on top, even though the gap with other nations narrows.

“This figure underscores Switzerland’s strong economic position and high standard of living, substantially surpassing other nations in the region,” the Eurostat noted.

Let’s look at other FSO findings.

Foreign executives earn more than the Swiss

Foreigners in high managerial positions earned more than their Swiss counterparts, with a median salary of 130,000 francs per year compared to 129,100 francs for Swiss nationals.

The difference is even more marked among women: foreign male executives pocketed 117,000 francs, compared to 110,000 francs for Swiss women (read more about gender inequality below).

READ ALSO: Can a foreign resident in Switzerland earn more money than a Swiss co-worker? 

More money for part-time workers

According to the FSO figures, people whose employment rate is less than 90 percent are considered part-time. And they have recorded significantly larger salary hikes over the last three years.

For instance, in 2021, they earned a median wage of 41,300 francs a year, compared to 43,300 francs in 2023, which represents an increase of 4.6 percent.

As a comparison, wages for full-time employees increased by only 1.6 percent over the same period.

Women earn less than men, with a few exceptions

The wage gap between working women and men remained significant in 2023: 31.3 percent of men working full-time earned more than 104,000 francs, while this proportion was only 20.6 percent for women.

However, the exact opposite is true in the lower income groups: 10.9 percent of women working full-time earned less than 52,000 francs, while only 5.3 percent of men are among the low-wage earners.

The situation is different in certain professional groups: women working part-time in commercial or sales professions earn more than men; the average annual salary for women in those sectors was 42,900 francs, while men in the same industries earned an average of only 42,000 francs. 

In the sales and service sector, statistics show that women in part-time jobs earned 28,500 francs per year, compared to an average of 25,700 francs per year for men.

So ‘gender bias’ seems to be working both ways.

READ ALSO: What kind of pay raise can you expect in Switzerland next year?